Benetton revises outlook
The Benetton Group has reported revenues of €1,288 million for the nine months of 2005, up 2.8% compared with the €1,253 million reported in the corresponding period of 2004. Revenues for the quarter were €446 million, up 13.7% compared with the third quarter of 2004. Revenue performance benefited from the good reception by the market of products in the new collections, especially the 2005 autumn/winter collection, as well as from increased revenues in its directly-owned stores.
Net income for the period was €89 million and 6.9% of revenues, compared with €104 million in the first nine months of 2004. In the third quarter of 2005, net income was €26 million against €35 million in the third quarter of 2004.
Regarding the 2005 year-end forecast, the management has up-dated its year-end previsions, following the market’s good reception of its new products and new collections, with revenues now forecast to be around €1,720 million, EBIT around 10% and net income around 6%.